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Cryptocurrency cannot be accepted as payment for goods and services. State Securities Commission forbid industry firms from engaging in crypto related activities. UPDATE: Authorities are unsure of how to implement new crypto regulations. Banned mining rigs but the Ministry of Industry and Trade opposes the ban due to loss of business for the country.

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E-Government In Vietnam: Issues And Approaches To Implementation Through The Use of Blockchain Technologies

Inception Any government, no matter how coherent and effective in the eyes of the people that had elected it or the elected is still subject to flaws, corruption, inefficiency and time lags. Technologies have largely streamlined government processes, such as elections, document workflows, and others, but the key concepts of effectiveness and efficiency still rest on the link binding the technology with the population – the human factor. It is the human factor that runs governments, and humans are prone to a myriad of faults ranging from banal errors in calculations and document workflows to corruption and even spite in performing their duties. To counter the human factor and take advantage of management systems, the concept of the E-government was proposed in the early 2000s. So the E-government concept is not that new, as it involves the use of various technologies, such as communications devices, computers, and the Internet to ensure the effective and efficient provision of public services to the citizens of a country. The keywords here are “effective” and “efficient”. Effective simply means the application of measures necessary for achieving a certain goal, no matter the costs. In stark contrast, efficiency means the application of measures for achieving a goal with minimum waste of resources. The E-government concept is the golden mean in achieving a balance between effectiveness and efficiency. When taken in the context of an entire country, efficiency means saving finances and ensuring convenience in the provision of services to citizens. Effectiveness means making sure that the services are rendered with due quality and with minimal error. This is where the appearance of blockchain technologies is set to play a key role in the future of E-governments as a whole. Advances In The Achievement of E-Government Implementation The countries of the world were quick in realizing the advantages of applying E-government approaches in the provision of public services. Every continent already has some measure of E-government applied. The countries of Southeast Asia and the Arab Gulf are the leaders in using technologies for providing their citizens with convenience in paying utility bills, ensuring transparency and efficiency with fiscal services, and workflows for various licenses, permits, and other documentation. One of the countries leading the charge in applying E-government approaches is the Socialist Republic of Vietnam. The Deputy Minister of Information and Communications Nguyen Minh Hong recently announced that the Vietnamese Government is aiming to enact Resolution No. 17/NQ-CP on the Digital Government Development Plan for 2018-2020 up to 2025. The ambitious goal will be supervised by the National Board of E-Government Review with Prime Minister Nguyen Xuan Phuc at the helm. The main aim of the Resolution is to improve Vietnam’s E-government standing on the United Nations assessment list from level 10 to level 15 by 2020. If successfully enacted, by 2025, this will propel Vietnam to the top of the ASEAN countries list in E-government implementation. The integration of multiple ministries into the E-government system will ensure lower error rates and improve interoperation between authorities, thus speeding up document workflow processes and bolstering GDP growth. Still, the poorly developed legal frameworks and regulations that manage the interaction among various authorities and ministries are a significant challenge that the implementation of E-government is called upon to overcome. In essence, given its strategic location, immense economical potential and the challenges present in the country, Vietnam is the ideal location for implementing an E-government. The Role of Technologies In Shaping Vietnam’s E-Government Technologies are the key link in securing the implementation of the E-government concept in any country seeking to automate administrative processes. The use of advanced technologies, namely blockchain and other similar solution, in creating a unified data sharing system for all government databases will lay the foundation for ensuring successful implementation of the Resolution starting in 2019. Given the situation with technology literacy in the 95 million citizen country, the Resolution aims to integrate up to 20% of all residents and businesses in the E-government system. ICT (Information Communication Technologies) are at the forefront of the strive to achieving E-government. The extensive use of databases and high-speed internet connection is a must, but the creation of the supporting infrastructure will ensure effective operation of the entire system. The specifics of Vietnam’s geographic location make the use of internet cables problematic in many regions, in addition to the lack of a sufficient number of highly qualified personnel for maintaining the system operational. The introduction of advanced education programs is one of the first steps that the Government of Vietnam is taking in incorporating technologies with the main element they will be serving – the citizens of the country. The Application of Blockchain In Achieving E-Government in Vietnam The advent of blockchain technologies has changed much in the way ICTs have affected the perception of technological advantages in the eyes of many governments. Unparalleled speeds of operation, full transparency of all records, immutability, tamper-proof qualities and many other boons are offered by blockchain, and all of them can serve Vietnam is attaining higher levels of E-government integration. Given that bureaucracy is the bane of many countries, including Vietnam, the introduction of blockchain technology with its auto-signatures and automatic consensus can solve the issue of cumbersome document verification procedures in government authorities. Many bureaucratic processes in Vietnam are age-old, as in many countries, but blockchain has the technological qualities necessary for granting citizens the trust element needed to negate the requirements of multiple physical signatures in obtaining permits, licenses and other documents. One of the main disadvantages related to E-government that is being constantly addresses is the lack of equality in public access to the internet. The so-called “digital divide” is an acute problem in Vietnam for citizens living in remote regions. But the application of blockchain on the basis of a reliable infrastructure can solve many of the issues associated with digital literacy. The technology does not require users to be highly computer-literate to be able to obtain the necessary public services backed by the technology. Full access to the data is yet another important use case of blockchain in E-government. Given the full accessibility, transparency and immutability of data records stored on the blockchain, government ministries, such as the tax authorities, can send their citizens requests on the use of any part of the data. The citizens have full control over their records and can grant permission for its use. Legitimacy of voting has always been a problem for governments and blockchain is the perfect solution. The independent, technologically-ensured and high speed combination of immutability of records and full transparency act as guarantees against public disagreement with voting results. The challenges blockchain technologies can solve are numerous and it is difficult to overestimate the contribution they can bring into ensuring Vietnam’s transition to higher degrees of E-government implementation. Credits Platform For E-Government Solutions Blockchain solutions have already been applied by a number of governments in test and live modes. The Credits platform is one of the most flexible and comprehensive solutions on the market for the implementation of E-government. With its advanced technical characteristics, the Credits platform can provide the necessary infrastructure and instruments for ensuring blockchain-based communication between the citizens and the state. The intuitive interface is designed for use by citizens with low levels of digital literacy and ensures comprehensive operation and effective adoption of services provided by E-government systems. At the same time, the Credits platform can be tailored for use for an endless variety of services in which operations are carried out using smart contracts and the internal CS currency. One of the key advantages that Credits offer in terms of application in E-government systems is high network capacities of up to 1 million transactions per second with transaction processing times at 0.1 seconds and low fees starting from 0.001 USD per transaction. Credits offer a comprehensive infrastructure for developing blockchain-based apps with self-executing smart contracts. The use of smart contracts is the main factor for facilitating the effective application of E-government concept by combining multiple mechanisms of citizen-state interaction in one technologically convenient, immutable and secure carrier. The source code eliminates the risk of unauthorized changes and ensures the uniqueness of the execution of the contract’s algorithm. With no intermediaries in the chain of interaction between the citizen and the state, the provision of public services through the use of the Credits blockchain platform becomes instantaneous and surpasses trust issues. The Credits platform currency (CS) can be used for conducting real estate transactions, transactions with public budgets, paying taxes, utility services bills and any other fees. The Credits platform offers a secure environment for data processing and transmission with failure-proof systems operating on a unique consensus algorithm combination of DPoS and BFT and advanced data encryption. All Credits platform transactions are recorded in a common ledger and available upon request by any authority or user with sufficient access rights to the database. The global practice has already proven that the use of cryptocurrencies and smart contracts can reduce state corruption by eliminating intermediaries. Blockchain technologies turn every interaction into a direct transaction between the citizen and the state, thus removing the human factor from the equation. E-Government Prospects In Vietnam Technologies are a prerequisite for improving national welfare and increasing economic growth. Blockchain technologies are playing a key role in enhancing this process as irreplaceable and valuable infrastructures and add-ons to existing solutions. “There is no doubt that blockchain technologies will play a vital role in leading Vietnam to full E-government use. The technology has advantages and we have the will and the resources to consider it as a valuable contributor to our nation’s welfare. I am certain that in the coming years we will see mass adoption of blockchain in Vietnam on the government level,” as said by CEO of ONPUN Phạm Quang Trung. The digitization of governments is vital in the modern world, where the increasing interconnection of various systems is having a direct impact on citizens and the state alike. With economic prosperity becoming ever more dependent on technological literacy, efficiency and effectiveness of document workflows and legal frameworks, blockchain solutions like those offered by the Credits platform seem to be the ideal infrastructure for building a more digital and transparent future. The post E-Government In Vietnam: Issues And Approaches To Implementation Through The Use of Blockchain Technologies appeared first on ZyCrypto.
ZyCrypto

Think 25% Tariffs Are Bad? Trump Slaps 456% Duty on Vietnam Steel

The widely-publicized trade war with China, in which some imports are being slapped with tariffs of 25 percent, has grabbed the headlines. The Tariff End-Run! Yet when trade war tariffs are imposed on countries, those countries don’t just sit around and take it. Either they slap tariffs on US imports or they attempt to circumvent […] The post Think 25% Tariffs Are Bad? Trump Slaps 456% Duty on Vietnam Steel appeared first on CCN Markets
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Starplay.Inc Partners With Vietnam VTV for a New Audition Program

Coinspeaker Starplay.Inc Partners With Vietnam VTV for a New Audition ProgramOn Tuesday, Starplay.Inc, a company engaged in broadcast contents production, entertainment, and IT fusion business, has signed a business agreement with Vietnam Television (Vietnam VTV), a public broadcasting company. The agreement has been signed at VTV headquarters.The partnership is a part of the content production alliance between the companies. Within the agreement, Starplay.Inc will produce an audition program for Vietnam and New K-wave Festival.Earlier, the company’s CEO Ho-gi, Yoon has already had experience in making a similar program. In 2017, he took part as a music director at Galaxy Star 2017, a star audition program in Myanmar. At that time, the audition program had about 70% of audience ratings in Myanmar.Starplay.Inc’s CEO Ho-ki Yoon commented:“The agreement with VTV in the public broadcaster has widened the content market for STARPLAY.INC and we intend to strengthen the K-pop media business by leveraging a content platform that is about to be launched soon.”As a result of the partnership, both the companies are planning to contribute to the growth of the global content business.Ho Kien, director of VTV, said:“I can see young people from all over Myanmar who follow the stage of a k-pop star. Through this agreement with STARPLAY.INC, we will learn K-pop’s contents and production technology in Korea. And we expect that VTV’s cultural contents production capability will be strengthened.”About Starplay.IncStarplay.Inc is an entertainment company established in 2019. According to the company’s executives, Starplay aims to be a global content platform model that can spread the powerful media based on K-pop Star contents and K-pop Fandom in the whole world.That’s why the company collaborates with Co.Gleammedia who runs StarPass. STARPASS is an idol-star voting platform that allows fans to advertise their stars themselves and see a variety of contents of their favorites. This platform is currently used by about 1 million fans from all corners of the world, including Vietnam. The Starpass app is provided by ROWEM Co., Ltd. and Gleamedia Co., Ltd. together and is available for Android and IOS.STARPASS enables voting for SBS MTV THE SHOW, provides the fandom community in which fans can communicate themselves together.At the moment, STARPLAY.INC is planning to expand its global content business and fandom service in the Southeast Asian market, with their new K-POP media platform, STARPLAY. Moreover, the company is getting ready to launch a new platform that collaborate with the STARPASS platform. STARPLAY aim that the platform provided the service for K-POP original contents subscribe, K-POP music program voting, artist’s mall service inside.Recently, the company has signed a strategic partnership agreement with Incublock, a start-up incubation lab that specializes in technology and business support and accelerates innovative blockchain start-ups.Starplay.Inc Partners With Vietnam VTV for a New Audition Program
Coinspeaker

Bitcoin 1, Traditional Fiat Currency 0: One Satoshi is now worth more than the national currencies of Iran, Vietnam

Bitcoin [BTC], the world’s leading cryptocurrency, has been enjoying a great 2019 after a late-2018 marred by a cruel crypto-winter. Since April however, the cryptocurrency has performed much better than traditional assets, outperforming even the S&P 500. Some of the key differentiating characteristics that set BTC apart from fiat were: decentralization of the economy, permanent ledger using blockchain technology, and unparalleled transparency for every entity involved. Created as an alternative, or even as a replacement to traditional fiat currency, Bitcoin [BTC] today is worth more than what it was worth when it was created. Further, as it turns out, a single satoshi (0.00000001 BTC) today, is worth more than several national fiat currencies. This was highlighted by a crypto-enthusiast, @Rhythmtrader, who highlighted fiat currency’s limitations as a tangible asset and the subsequent rise of Bitcoin and cryptocurrency. At press time, the following fiat currencies’ value was lower than a single Satoshi, – 1 Iranian Rial is worth – 0.0000000037 BTC – 1 Vietnamese dong is worth – 0.00000000053 BTC – 1 Indonesian rupiah is worth – 0.00000000088 BTC One Satoshi is also greater than the singular unit of Paraguay, Laos and Sierra Leone’s fiat currencies. This is a good indication of Bitcoin and cryptocurrencies’ store of value in the face of several fiat currencies failing to sustain themselves, as well as the growing crypto-adoption drive. Several countries including Venezuela have also amped up their crypto-adoption drive owing to their failing economies. One of the main speculated reasons for this development is that BTC’s anti-inflationary nature is driving down the value of fiat currencies. The crypto today has emerged to become a “hedge” to a lot of countries dealing with hyperinflation. Other countries hit hard by inflationary rates such as South Sudan, Suriname and Angola are also recording rising number of Bitcoin and crypto-adopters. The post Bitcoin 1, Traditional Fiat Currency 0: One Satoshi is now worth more than the national currencies of Iran, Vietnam appeared first on AMBCrypto.
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What is actually crypto — asset, currency or collectible?

Coinrail has a recovery plan, Cambodian investors need a license, Vietnam approved a cybersecurity bill, Australia will collect Capital Gains Tax, Japan will release new guidelines, SEC threatens McAfee, BitTorrent's price, the US officials will disclose their crypto holdings.

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Fan tokens draw new users to crypto with the latest club addition, AS Roma

Blockchain is stepping further into the sports arena, as cryptocurrency company Socios partners with soccer team AS Roma to offer a fan token, according to a statement from the club.  The token will find its way to fans through the Socios app. There, it'll be tradeable against the Socios native token, $CHZ, currently listed on BitMax and KuCoin, as well as Binance DEX - Binance's decentralized exchange. The tokens are accessed on Socios.com, but housed on a separate permissioned side chain, where each club becomes a Node with Proof Of Authority (POA) from $CHZ. In order to access the club token through a Fan Token Offering, fans must first hold $CHZ. The move could open crypto to a wider user base, since the tokens allow fans to have a voice in their club. The tokens five supporters the right to vote on certain club decisions. They'll be set at a price of two euros, but fans can also earn them by interacting with AS Roma on the Socios app. Fans can also "hunt" tokens for free through the app's augmented-reality geo-location feature Token Hunt. However, AS Roma isn't the only club interacting with fans through crypto. Indeed, clubs from different leagues including Paris Saint-Germain, Juventus and West Ham United have all created fan tokens for supporters. Alexandre Dreyfus, chief executive & founder of Socios.com, said AS Roma's fan base along with other participating clubs draw hundreds of millions of users.
The Block Crypto

What does it take to be part of the next wave of Bitcoin Billionaires? Tim Draper answers

As crypto ecosystem consistently redefines its new peak in terms of adoption, fiat investors and new players are seeking opportunities to be a part of the next wave of Bitcoin Billionaires. One of the early birds, Tim Draper leads this space in terms of making sizable investments and returns in Bitcoin. Having complete faith in Bitcoin’s […] The post What does it take to be part of the next wave of Bitcoin Billionaires? Tim Draper answers appeared first on AMBCrypto.
AMBCrypto

Bitcoin Law Review - Blockstack's Reg A+, CFTC vs Bitmex, Gov't vs Libra/Crypto

https://ToneVays.com by @ToneVays https://twitter.com/ToneVays Topic 1: Reg A+ & Blockstack https://www.sec.gov/Archives/edgar/data/1719379/000110465919020748/a18-15736_1ex1a15addexhbd6.htm https://www.theblockcrypto.com/2019/07/12/blockstack-garners-reg-a-approval-but-that-doesnt-mean-crypto-icos-will-boom/ Leads into Topic 1a on Broker-Dealers & Custody https://twitter.com/philipliu/status/1149907881061302272?s=12 https://www.sec.gov/news/public-statement/joint-staff-statement-broker-dealer-custody-digital-asset-securities https://bitcoinmagazine.com/articles/op-ed-latest-finra-sec-security-token-custody-rules Topic 2: Government vs Libra/Crypto https://twitter.com/realDonaldTrump/status/1149472282584072192?s=09 https://www.cnbc.com/2019/07/18/first-on-cnbc-cnbc-transcript-treasury-secretary-steven-mnuchin-speaks-with-cnbcs-squawk-box-today.html https://www.cnbc.com/2019/07/18/mnuchin-says-us-will-ensure-bitcoin-doesnt-become-like-anonymous.html https://www.cnbc.com/2019/07/18/first-on-cnbc-cnbc-transcript-treasury-secretary-steven-mnuchin-speaks-with-cnbcs-squawk-box-today.html https://brianoflondon.me/2019/07/facebook-lied-about-the-cryptocurrency-industry-to-destroy-it/ https://www.youtube.com/watch?v=9-ZTkCNW0w8 https://www.cnbc.com/2019/07/16/i-like-bitcoin-says-house-gop-leader-mccarthy-hits-facebook-libra.html Topic 3: Crypto Exchanges https://www.bloomberg.com/news/articles/2019-07-19/u-s-regulator-probing-crypto-exchange-bitmex-over-client-trades https://twitter.com/notsofast/status/1151864421414838274?s=21 https://www.coindesk.com/ex-ceo-of-crypto-exchange-wex-arrested-in-italy https://www.coindesk.com/mt-gox-founder-hit-with-lawsuit-over-alleged-fraudulent-misrepresentation https://www.scribd.com/document/414569311/Steinmetz-Jones-v-s-McCaleb#from_embed https://www.thedailybeast.com/behind-the-biggest-bitcoin-heist-in-history-inside-the-implosion-of-mt-gox?ref=scroll Topic 3a - Update on Bitfinex vs NYAG https://ambcrypto.com/new-york-ags-court-filings-written-in-bad-faith-and-riddled-with-false-assertions-says-bitfinexs-rebuttal/ https://www.coindesk.com/bitfinex-ny-prosecutors-tether-850-million-allege https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=vIexA1b0spKOnK_PLUS_ZUGTJ3A==&system=prod https://breakermag.com/crypto-capital-is-the-common-thread-between-bitfinex-quadrigacx-and-other-troubled-exchanges/ https://decrypt.co/6824/crypto-capital-follow-up-article Topic 4: Crypto & Taxes (Time Permitting) https://www.carltonfields.com/insights/publications/2019/how-state-remote-sales-and-use-tax-statutes-may-im https://twitter.com/cryptotaxgirl/status/1148370522775797760?s=21 Topic 5: Other - Time Permitting https://www.journalofaccountancy.com/news/2019/jun/virtual-currency-not-fbar-reportable-201921479.html https://www.justice.gov/usao-sdny/pr/us-attorney-announces-arrest-and-money-laundering-charges-against-dark-web-narcotics https://cryptoslate.com/chinese-court-upholds-legal-bitcoin-ownership-btc-protected-china-property-law/ Closing Moment of Zen: https://twitter.com/Horsebox_1/status/1117955111219867648 Honorable Mention: https://www.sec.gov/corpfin/framework-investment-contract-analysis-digital-assets Please Support via Affiliate Codes: Unlimited Trading for $9 a Month at LVL: https://lvl.co/?r=kDpHhBmS Deribit to save 10% on Trading: https://www.deribit.com/reg-3221.4686 Buy/Sell Bitcoin at Paxful: https://paxful.com/?r=or4dNEDBBQX Trading View: http://tradingview.go2cloud.org/aff_c?offer_id=2&aff_id=4905&url_id=3 TorGuard VPN 50% off code & link = tone50: https://torguard.net/aff.php?aff=3782 Ugly's Lifetime Subscription: https://uglyoldgoat.com/?rid=4xyuzu Audio Podcast: https://itunes.apple.com/us/podcast/the-tone-vays-podcast/id1390209454?mt=2 See Regulation overview in each state here: https://www.carltonfields.com/state-regulations-on-virtual-currency-and-blockchain-technologies/ Tone Vays is available for Corporate Consulting at the rate of 0.3 btc per hour. Please email Tone@protonmail.ch for additional info.
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